[LOS ANGELES] Marriott International Inc's luxury Edition brand will open a second location in New York, at a property in the Times Square area owned by a partnership that also agreed to refinance the debt on the project.

Marriott will operate the 452-room boutique hotel to be built at 701 Seventh Avenue, according to a statement on Tuesday by Winthrop Realty Trust, a Boston-based real estate investment company that's part of the ownership group.

Winthrop in 2012 bought the site, at the corner of 47th Street in one of Manhattan's most popular tourist areas, in partnership with New York-based Witkoff Group and New Valley LLC.